Greetings Kambria Community! We are back with another major update for you, so be sure to read this in its entirety. We started this year off strong, and we have no intention of slowing down, so without further ado, let’s get into it!
KAT Token Burn
Last March, we launched Kambria’s very own DeFi initiative, Kambria Yield Tuning Engine (or KYTE for short). Apart from a very small IDO on Gumpad, the only way to obtain freshly minted KYTE was to convert your KAT at a 100:1 ratio. We promised to permanently disable all KAT that was converted into KYTE, so we are happy to announce that the first round of burns took place on July 3rd, 2021. You will notice we said “the first round,” more on that below.
KYTE is Back!
Even more exciting news, we are also opening up the opportunity to convert your KAT into precious KYTE once again, starting July 5th, 2021. Due to community feedback, we are doing things differently this time around. Rather than the previous method of first-come-first-served (FCFS), we are asking the community to fill out a whitelist form. Only users selected to swap will be eligible to swap their KAT. You must fill out the form to be eligible, no exceptions.
Once approved, we will open the swap tool and you can swap your KAT for KYTE. All KAT that is converted into KYTE will be permanently disabled in a second round of burns at a later time. Additionally, in order to increase token velocity and create stability, all swapped KYTE will be placed on a vesting schedule which will be fully automated and executed indefinitely.
Details are as follows:
- Whitelist is required
- KAT can be converted to KYTE at the same 100:1 ratio (100 KAT per 1 KYTE)
- KYTE vesting period will begin to distribute tokens July 20th, 2021.
- Participants will receive 5% the first week, and 2% each week thereafter.
- All converted KAT will be burned at a later time
KYTE Launching on Cross Pool
We’re also happy to announce that KYTE has officially launched on the rapidly growing Yield Farming platform Cross Pool. Compatible with both Ethereum and Binance Smart Chain, Cross Pool offers the opportunity to stake your KYTE for generous APYs, allowing you to earn while you sleep. Additionally, the creators of Cross Pool, Hot Cross, have built an NFT minting platform which we are exploring additional opportunities to create NFTs.
Our community will have two opportunities to earn on Cross Pool: Yield farming through staking KYTE and BNB on the KYTE/BNB market on Cross Pool, or staking Hotcross tokens to earn KYTE. We encourage you to check out their website to learn more about their platform, and of course, happy staking!
Stake: KYTE-BNB LP
Stake Hot Cross
📍Where to stake: crosspool.hotcross.com/
To get started, you can convert your Ethereum KYTE to Binance Smart Chain with just a few clicks. We have created handy guides for you to complete the swap in a matter of moments. You can swap back at any time.
👉 KYTE BSC contract address: 0x0995d8643645dd0cea60ab1acfa5ad2f642273d3
👉 Get Started: http://bsc.kambria.io/
KYTE Biggest Airdrop Event Ever | $10,000 $KYTE is up for grabs 🎉
🚀 Prime Giveaway
🚀 Farming Contest
🚀 Community Contest
To celebrate the recent popularity of KYTE and also to express our warm gratitude to all supporters, we are thrilled to announce that KYTE very first social airdrop is now running.
Let’s optimize your yields by joining our Prime Giveaway and enjoy 3,000 $KYTE sharing rewards!
That’s it for now, but expect further updates in the coming weeks. As always, we hope that you and your families are safe and well. Thank you for all of your support. #KYTE #Kambria #KAT #YieldFarming #DeFi #Innovation